RMBS

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  • Bankers divided on EBA’s LGD consultation

    Bankers divided on EBA’s LGD consultation

    The European Banking Authority’s consultation assessing risk weights and loss given default of mortgage risk has drawn a mixed response from bankers, with some suggesting the regulator was angling for higher capital charges, while others came to the opposite conclusion.

  • EBA revises NPL data plan which could become compulsory

    EBA revises NPL data plan which could become compulsory

    The European Banking Authority has published a new version of its NPL data templates, which are supposed to serve as a standardised way for buyers and sellers of non-performing portfolios to exchange information.

  • Fleet Mortgages breaks London Wall silence with OWS deal

    Fleet Mortgages is offering its first UK buy-to-let RMBS under the London Wall brand since 2018, following several years in which the company’s collateral emerged largely in Citi’s multi-originator principal shelf Canada Square. One William Street Capital, which renewed its partnership with Fleet in 2019, is sponsoring the deal.

  • Mars Capital sells Irish risk as Arrow buyout heats up

    Mars Capital sells Irish risk as Arrow buyout heats up

    Mars Capital, now a subsidiary of Arrow Global, has probably sold controlling positions in two Irish reperforming loan portfolios, securitized in RMBS transactions Grand Canal 1 and 2, with the Grand Canal 1 portfolio rapidly returning to the market in a Morgan Stanley-backed deal announced on Wednesday. The move comes as TDR Capital’s bid for Arrow heats up, with shareholders now ready to vote on approval.

  • The days of swift evictions are over after Covid

    The days of swift evictions are over after Covid

    Mental health is moving to the forefront in the discussion of what action lenders should take when people are no longer able to pay back their debts. One lasting legacy of the pandemic could be that repossessing a home becomes a last resort rather than a first response and that will have consequences for investors in mortgage-backed products.

  • UK launches 'debt freeze' protecting borrowers

    UK launches 'debt freeze' protecting borrowers

    UK government is introducing a debt freeze for suffers from mental health problems, introducing a 60 day “breathing space” where lenders will be prevented from communicating with borrowers who are in arrears. Mental health has also come to the forefront of debate around how to help so-called ‘mortgage prisoners’ stuck on high interest rates after the financial crisis.

  • Piraeus covers capital raise to clean up NPL portfolio

    Piraeus covers capital raise to clean up NPL portfolio

    Piraeus Financial Holdings, the Greek holding company which owns Piraeus Bank, has launched a capital raise to give it the firepower needed to offload non-performing loans and has already secured enough demand on one morning of book-building to cover the deal.

  • UCI brings Spanish RMBS in hot market

    UCI brings Spanish RMBS in hot market

    UCI is bringing a Spanish RMBS, its second since a recent break from the market which ended in 2020, issuing a smaller deal this time but with a lower LTV portfolio. BNP Paribas and Santander are arranging the deal.

  • ‘Trench warfare’ as vultures swoop on Irish NPLs

    ‘Trench warfare’ as vultures swoop on Irish NPLs

    Private equity "vulture funds" are tightening their grip on Ireland after a Covid-19 parliamentary bill opened up more mortgages for repossession. But legal practitioners are working with non-profits to stop PE firms from “scraping the barrel” of defaulted mortgage debt.

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